Based in Franklin, Tennessee, IASIS Healthcare Corporation (“IASIS”) once held the distinction of being the leading owner and operator of medium-sized acute care hospitals in urban and suburban markets experiencing major growth.
IASIS operated its hospitals with a strong focus on community, offering and developing healthcare services aimed at the needs of the markets it serves. It sought to promote solid relationships with physicians and establishing solid working relationships with locally managed care plans. IASIS owned or leased just over fifteen acute care hospitals and one behavioral health hospital with more than 4,000 licensed beds in service. These hospital facilities were spread across six regions: Salt Lake City, Utah, Phoenix, Arizona, and Tampa-St. Petersburg, Florida. Additional locations included San Antonio, Texas Las Vegas, Nevada, and West Monroe, Louisiana.
The IASIS acute care hospitals provided a variety of medical and surgical services generally found in hospitals, including emergency services, general surgery, internal medicine, cardiology, obstetrics, orthopedics, and physical rehabilitation. IASIS also maintained an ownership interest in a trio of ambulatory surgery centers. Furthermore, it was the owner and operator of a Medicaid managed health plan in Phoenix going by the name of Health Choice Arizona, Inc., or simply Health Choice.
Trimaran was part of a group responsible for the creation of IASIS by purchasing hospitals from a pair of separate corporate sellers. Trimaran’s initial realization came when TPG purchased the company. Trimaran retained a portion of its ownership in IASIS following the TPG sale and fully realized its investment after Steward Healthcare Corporation acquired IASIS.